Note from Peter S. Clark, II (R&I Practice Group Leader):

Welcome to the October 2018 issue of the R&I Alert, the newsletter produced by Reed Smith's Restructuring & Insolvency Group. Readers who wish to print and read the newsletter in its entirety may do so by clicking here. Please share your feedback and ideas. We appreciate the opportunity to serve you.

Authors: Meghan A. Byrnes Peter S. Clark David A Kazlow Christopher A. Lynch Maura P. McIntyre Christopher O. Rivas Jared S. Roach Reginald Sainvil Brian M. Schenker Lauren S. Zabel

In this Issue:

What happens to committee claims when a case is converted from a chapter 11 case to a chapter 7 case? 

  • Equitable mootness: alive and well in the third circuit
  • Buyer beware: anti-assignment clauses enforceable under delaware law
  • Bankruptcy court finds substantive consolidation of non-debtors not an available remedy in seventh circuit
  • A creditor is allowed to be “selfish” when purchasing claims to block a plan, despite unfair results to other creditors. This selfishness, however, cannot be coupled with an improper ulterior motive.
  • The importance of a good sale order
  • Connecticut bankruptcy court sides with seventh circuit in circuit split regarding rejection of trademark licenses and application of section 365(g) of the bankruptcy code
  • Price at auction establishes value of assets
  • Detail and transparency are necessary elements of an adequate disclosure statement and confirmable plan of reorganization.
  • Statutory tenants’ rights under new york loft law prevail against proposed § 363(f) sale
  • You’re not fired: united states trustee’s objection to retention of management consultants falls flat
  • Eighth Circuit BAP affirms dismissal of trustee’s adversary case based on finality of sale order
  • Bankruptcy court order approving free and clear sale of assets not necessarily impediment to equitable relief sought in state court against purchaser
  • Counsel’s Corner: News from Reed Smith

Download the .PDF below to learn more.